Disposal Of Stake In Parkway Holdings Limited

CapitaLand Limited (CapitaLand) wishes to announce that its indirect wholly-owned subsidiary, Premierhealth Investments Pte Ltd (PIPL), under CapitaLand Commercial Limited, has today disposed of its entire stake in Parkway Holdings Limited (Parkway), an SGX-listed and Singapore-based healthcare provider. Through this transaction, PIPL sold its 120,364,000 ordinary shares, representing a 16.7% interest in Parkway, for S$0.99 per share. CapitaLand will recognize a gain of S$1.8 million. 

This disposal is in line with CapitaLands strategy of divesting its non-core assets to focus on its core competencies. 

This transaction will have no material impact on earnings per share or net tangible assets at the group level for the financial year ending 31 December 2001.